Seeking Alpha

Direxion launched an ETF with iBillionaire today

  • The Direxion iBillionaire Index ETF (NYSEARCA:IBLN) tracks the iBillionaire Index comprising 30 U.S. large- and midcap securities favored by the likes of Warren Buffett, Carl Icahn and George Soros, as stated in 13F filings.
  • "It democratizes a lot of the information that very wealthy institutional investors have had for a long time," said Brian Jacobs, president of Direxion Investments.
  • IBLN will likely compete with the Global X Guru ETF (NYSEARCA:GURU) for assets, as GURU also attempts to mimic equity positions taken by large hedge funds; however, IBLN will feature a cheaper expense ratio of 0.65%, which could help attract investors.
  • Other ETFs which track the holdings of well known investors: GURX, GURI
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Comments (2)
  • thejacadagroup
    , contributor
    Comments (72) | Send Message
     
    Go team!
    1 Aug 2014, 02:13 PM Reply Like
  • mjtroll1
    , contributor
    Comments (1630) | Send Message
     
    since inception has had about 1/2 the return of spy (4.08 vs 7.31%)...so much for "smart money" :)
    2 Dec 2014, 11:48 AM Reply Like
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